April 1, 2004

South Korea Feedmill Group Buys 157,500 MT Corn

A major South Korea feedmill group bought 157,500 metric tons of U.S. and South American origin corn from Cargill Inc., in two separate private deals reached earlier this week, a Korean trader said Thursday.
 
In the first deal concluded on Tuesday, the Korean feedmiller bought 105,000 metric tons of U.S. and South American corn at $190.20/ton, cost and freight basis, he said.
 
The shipment will arrive in two cargos of 52,500 tons each, with the first cargo to arriving in Incheon and Kunsan ports August 5 and the second arriving at the same ports August 15, he said.
 
In a second deal concluded Wednesday, the same buyer bought 52,500 tons of South American corn at $191.18/ton, cost and fright basis, he said. The shipment will arrive in Incheon port September 5.